The U.S. Securities and Exchange Commission (SEC) has issued a “no-action” letter to TurnKey Jet, Inc., in whick it agrees that tokens that are used by the business-travel startup are not securities.
The guidance released by SEC includes examples of both networks and tokens that fall under securities laws and outlines projects which do not.
Hong Kong’s Securities and Futures Commission (SFC) has published detailed guidelines for security token offerings (STOs).
The new legal framework mandates companies to register their securities offerings over the blockchain before distribution to investors.
Here’s a look into the growing popularity of Security Tokens and the regulatory path for the token issuers lying ahead.
Last year a piece of Andy Warhols art named ”4 Small Electric Chairs (1980)” was listed on Maecenas’ blockchain platform. Up to 49% ownership interest in the painting was made available for purchase in auction.